According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices rose by 2.6% year over year in January 2024. CoreLogic says rent growth slowed in January on both a monthly and yearly basis and has not been in double digits since the fall of 2022. However, they do point out that overall growth since February 2020 is about 28%, reflecting continued demand for rental properties. Indeed…
“While annual U.S. single-family rent growth was a moderate 2.6% in January, that increase built on years of above-trend annual gains…Furthermore, while rent growth is slowing, costs are still increasing across most of the country. The median rent on a three-bedroom property increased by over $100 in the past year and by more than $500 in the past three years.” Said Molly Boesel, principal economist for CoreLogic.
Click here to read the full report at CoreLogic.
